Pantera Capital Raises $1.25 Billion For Second Blockchain Fund

The American asset manager that specializes in cryptocurrencies, Pantera Capital, is looking to raise $1.25 billion for its second blockchain fund. CEO Dan CEO Dan Morehead says its second fund will be completed in May 2023.

In a recent interview, Pantera Capital’s CEO Dan Morehead disclosed that the company plans to launch a second blockchain fund that will be substantially larger than the first one and will total $1.25 billion.

Morehead claimed that his business concentrates on these investments because it has faith in the future growth of the cryptocurrency sector.

“We want to provide liquidity for people that are kind of giving up because we’re still very bullish for the next 10 or 20 years.”

But the sector’s current state is not exactly upbeat. The market value of all cryptocurrencies fell below $1 trillion today, and the price of one bitcoin is at around $19,000, down 70% from its all-time high price in November 2021.

Morehead claims that the unsatisfactory performance of the majority of digital currencies is caused by their close ties to other risky assets. But he anticipates that this tendency will soon come to a stop, which would cause prices to rise.

“Unfortunately, crypto pricing has become correlated with risk assets, which I honestly don’t think has to be true,(…). My hope is that soon crypto will decouple from the macro markets.”

Morehead said

CEO Dan Morehead said Pantera Capital will complete its second blockchain fund in May 2023.

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